Consumer price index down 0.1 percent in October

Consumer prices retreated moderately in October, led by declines in the costs of transportation, foreign travel and hotel stays, data released by the Central Bureau of Statistics shows.

On a monthly basis, the consumer price index (CPI), a measure of inflation that tracks the average cost of household goods, was down 0.1 percent in October.

The monthly reading takes annual inflation over the past 12 months to 1.1%. The inflation rate is well within the government’s annual target range of between 1% and 3%.

In October, drops were seen in the costs of fresh fruit, which declined 2.8%, while transportation was down 1.4% and housing services retreated 0.5%.

Expenses for international travel and domestic flights fell by 5.1%, and hotel stays were down by 2.4%.

These were offset by notable price increases in the prices of clothing and footwear, which were up 4.1%, as fresh vegetables rose 3.5%, home maintenance added 0.4%, and furniture and household equipment 0.3%, according to the statistics bureau.

Rents on lease renewals jumped 2.8% in October, and rents on new leases surged 5.5%.